(NFLX) – Bullish Signal: Bullish Signal: Break and Retest at 200
Analysis:
Break and Retest Pattern: The chart clearly shows that NFLX recently broke above a significant resistance level, indicating a potential shift in the trend. This break is marked as a bullish signal.
200-Day SMA Support: As NFLX retraced after the breakout, it approached the 200-Day SMA, a widely watched long-term trend indicator. The 200-Day SMA has historically acted as a strong support level. This retest of the 200-day SMA serves as a critical point of interest.
Bullish Scenario: If NFLX successfully holds above the 200-day SMA support level following the retest, it could signify a continuation of the bullish trend. This could attract more buyers, potentially driving the stock price higher.
Break and Retest Pattern: The chart clearly shows that NFLX recently broke above a significant resistance level, indicating a potential shift in the trend. This break is marked as a bullish signal.
200-Day SMA Support: As NFLX retraced after the breakout, it approached the 200-Day SMA, a widely watched long-term trend indicator. The 200-Day SMA has historically acted as a strong support level. This retest of the 200-day SMA serves as a critical point of interest.
Bullish Scenario: If NFLX successfully holds above the 200-day SMA support level following the retest, it could signify a continuation of the bullish trend. This could attract more buyers, potentially driving the stock price higher.
Comment:
Here you go!